American fashion brand Forever 21 on Thursday announced it will close its online stores on major Chinese e-commerce sites Tmall.com and JD.com on April 29.
It’s official website will also be shut down, according to a company statement. The move came after it terminated its operations in Taiwan last month after nearly four years of operation. It’s not clear whether Forever 21 will completely quit the Chinese market.
Products are now on clearance sale both in its physical stores and online stores. The company presently has only 11 physical stores in China, covering Beijing, Shanghai, Shenzhen and Kunming, among others.
Shutting down e-commerce stores doesn’t necessarily mean the termination of its business, an industry insider was quoted as saying in a Beijing Business News report, noting that most of the fashion brand stores on e-commerce platforms are there for brand awareness, rather than having a sales-driven purpose.
Some brands launched their own online stores in China after the learning experience of major e-commerce platforms, he said.
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